"We have reason to be pleased with profit development in 2013. The Group reached USD 4,0bn in underlying earnings; an increase of USD 1bn from the previous year. Maersk Line strengthened profitability despite challenging shipping markets and both APM Terminals and Maersk Drilling had their best result to date. As expected, Maersk Oil's underlying profit was below last year due to decline in production and lower oil prices. However, production stabilised mid-year and increased towards the end of the year. Most of the Group's other businesses also improved results and in total six out of eight businesses came out of 2013 as top quartile performers in their industry," says Group CEO Nils S. Andersen.
In the video interview, Group CEO Nils S. Andersen addresses the following
- How the Group has increased its earnings of USD 1bn
- When will Maersk Oil's production increase
- Whether Services & Other Shipping is getting closer to its target of USD 500m
- The impact of the Group's improved cash flow of USD 4bn
- Why it has been decided to issue bonus shares